The Banco Nacional de Guinea Ecuatorial (BANGE) made financial sector history by becoming the first bank to sign a credit insurance agreement with VidaSEguros EG. This milestone, marked by an official ceremony in Malabo on 6 May 2023, begins a new era of financial protection for Equatoguinean citizens who take out bank loans.
The agreement states that, if a BANGE borrower dies or becomes totally and permanently disabled, VidaSEguros EG will pay the outstanding loan balance. The customer and their family therefore need not worry about the debt, as the insurer will cover the remaining amount in full. This protection mechanism provides assurance for both the bank and its customers.
For BANGE customers, this partnership provides unprecedented peace of mind. When a family loses a loved one, financial problems should not be compounded by bank debts. This insurance protects beneficiaries from loan obligations, allowing them to grieve without additional financial pressure. Policyholders can also pursue their life plans knowing their families are supported.
During the signing ceremony, representatives of both institutions highlighted the importance of this agreement for the development of Equatorial Guinea's insurance sector. 'This agreement not only benefits our clients but also helps strengthen the national financial system,' the executives said. VidaSEguros EG thus reaffirms its commitment to protecting Equatoguinean families and its role in driving financial inclusion in the country.
Abilio Balboa Street, Malabo (next to the Ministry of Health)
+240 333 090 444 · 222 854 950
info@vidaseguros-eg.com · www.vidaseguros-eg.com
Abilio Balboa Street, Malabo (next to the Ministry of Health)
+240 333 090 444 · 222 854 950
info@vidaseguros-eg.com · www.vidaseguros-eg.com